Selling your business A strategy to maximise the assets of your business on its sale requires patient, advance planning. Succession - loosening the family ties Two emerging trends in the small and medium-sized business sector seem to be conspiring to make family succession a thing of the past. 7 steps to successful business transition In all successful businesses the issue of succession from the current owner to the next generation comes up, and one question that often arises is: when is the most appropriate time to begin planning for succession? Value a business According to the latest research, nearly half of entrepreneurs planning to sell their business are unaware of how much it is worth. The problem is particularly marked for the smallest businesses. How to increase your profit In business, your profits are your reward for your endeavours. In fact, profitability is the only reliable measurement of a business' success. Profits are the very lifeblood of a business. What is your business worth? Clients often ask us to help them value their business, and are surprised when we ask them for what purpose they require the valuation. The way we value a business depends upon the use to which the valuation will be put. Entrepreneurs' relief The relief is intended to replace Business Asset Taper relief for disposals by smaller business owners. It produces a net tax rate of 10% on the disposal, although for those making modest gains there is a slight increase in the actual tax burden compared to that payable under business asset taper relief because the CGT annual exemption saves less tax under this relief (at 18%) than it did under taper relief (at 40%). Leaving your business When will you leave your business to others? What are your personal aspirations? What are your options for maximising the net proceeds from sale?